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CNBC
Dec 2, 2012 7:30pm EST
living in the lap of luxury. john paul dejoria's remarkable ride. you went from homeless to a billionaire. the "wall street journal report" begins right now. >> here's a look at what is making news as we head to a new week on wall street. in washington, posturing politics and high-stakes poker with america's economy at stake. president obama's initial offer on the fiscal cliff was resoundingly rejected by republicans. it included a $1.6 trillion tax increase, double what he campaigned on. also included $400 billion in entitlement cuts eliminating the need for congressional approval to a raise the debt ceiling. the markets rebounded later in the week following the latest hopes on a fiscal cliff agreement. america's economy grew at a faster pace than initially expected in the third quarter of the year. the second reading of the gross domestic product showed it at rate of 2.7% spurred by stronger inventories and exports. the securities and exchange commission is looking for a new chairman. mary shapirp schapiro announcin she will step down after nearly four years on the job. the
CNBC
Nov 29, 2012 3:00pm EST
how that impacted the market, starting with speaker john boehner. here's what he had to say early in the day. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the house and the house over the last two weeks. >> so republicans accusing democrats of not being serious. what did the democrats have to say? well, listen to harry reid. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. the president said the same thing. it's been weeks, at least two weeks, since we met at the white house. we're still waiting for a serious offer from the republicans. >> so neither the democrats nor the republicans are serious according to the democrats and the republicans. what's really going on here, guys? i think we should put it into serious context. the negotiation. both sides want more concessions from the other side than they're seeing right now. that's why you've seen these duelling press conferences.
CNBC
Dec 7, 2012 3:00pm EST
, later on, did you hear john boehner today? >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then, there's been to counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your futur
CNBC
Nov 30, 2012 1:00pm EST
today, speaker john boehner, who came out just a few minutes after the president spoke. he talked here on capitol hill a little bit about the stalemate that he sees these talks being at this point. sort of a glum take here from the speaker of the house. obviously he's saying that these negotiations not broken down. they continue to talk but a stalemate is the way he characterizeded that. so tyler, not great news here on capitol hill, but there's another week next week. we'll get another crack at this thing. >> eamon, thanks very much. where do we stand? are we any closer to a deal? we thought we'd give you our little guide with the daily spin on our "rise above" deal meter. as you can see, after today's dueling conferences, not so much. sort of a no deal. closer to the red side. we do still have some time, of course. >>> bob pisani, how are traders down here investing -- reacting to mr. obama and mr. boehner? >> it depends on what the headlines are. so the president said the clear majority voted for a balanced approach. but there's a lot of debate about what that means. representative
CNBC
Dec 4, 2012 7:00pm EST
about to blow up into a civil war. did president obama disspeaker john boehner in a comment today. >> on the conservative side of the republican party today. with senator demint speaking on the idea that $800 billion of tax increases were offered. but he got the backing of mitch mcconnel. take a listen to what he had to say. >> i think it sis important tha the house leadership is trying to mov move it forward. i had hoped that we would be accomplishing more in the real talks. but i can tell you, there is nothing going on privately that is not going on publicly. even as he has to deal with this rebellion. he has to deal with democrats and harry reid's comments today give you a sense of where they are coming from. >> they have to come up with specific revenue. and they refuse to do that. it is a simple question of arithmetic. you can't get from here to there unless you raise the rates. so as you know in washington, a rebellion in the ranks like this could be a problem. but in the spohort-term, if it remains constrained. it could be a good negotiating term. he could say i have offere
CNBC
Dec 5, 2012 4:00am EST
republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my pancakes. we have just come down from higher
CNBC
Nov 29, 2012 2:00pm EST
greenberg and john carney, who has a very different take on this. first, i want to ask you, justin, what's going on here? i guarantee when people hear ceo anded inner trading in the same sentence, they're ticked off. >> yeah, i mean, what we've seen is that these guys, they're incredibly lucky, especially once you strip out the routine guys like bill gates who are trading an obscene amount of stock every quarter like clockwork. all of the sudden you see that insider trading are getting very good returns. >> they might be getting very good returns. is it legal or illegal, though, john carney? >> there's a very easy way that the kind of returns "the wall street journal" showed can be accomplished legally. just regularly schedule trades and cancel them whenever there's not bad news coming out of your company. that way, you're never selling after the bad news, and you avoid the losses that comes with selling after bad news. we don't know because i haven't seen all the data that "the wall street journal" used, but i suspect that explains a lot of the abnormal returns they were able to r
CNBC
Dec 3, 2012 4:00pm EST
washington correspondent john harwood would details on both. >> reporter: i think this is a step in the right direction in terms of progress toward a deal. the house republicans a few days after treasury secretary geithner went to capitol hill, laid out a plan and challenges republicans to come up with one. i think it shows a willingness to engage in talks with the white house. first of all they only call for $800 billion in revenue, half of what the white house wants. they exclude tax rates from that. they do have some specifics on entitlements which include raising medicare age of eligibility from 65 to 67, something talked about in the grand bargain talks over a year ago. they talk about moving to a different inflation adjustment for social security and other government programs. they also talk about reform of medicare to include private sector competition with a traditional fee for service medicare plan. all of those are things that are within the zone of discussion that both -- between the two of the parties. now, president obama went on twitter this afternoon, took questions from
CNBC
Dec 6, 2012 4:00pm EST
on the fiscal cliff negotiations. john harwood with the details. over to you, john. >> maria, just wanted to bring you up to date on a development, which is the resumption of some staff level discussions between the congress, the speaker's office in particular, and the white house. we've been through a period where both sides, the principa s principals, the speaker and president have been striking tough lines in public, having made some initial moves towards cooperation, but word followed up no more meetings scheduled between the principals. wasn't that much going on staff to staff. that's changed today from yesterday. to you have some discussions resumed. i don't want to overplay the significance, but it is an encouraging sign for people who think that the ice had been beginning to crack around some of the positions, especially with the republicans on taxes. we may be looking for some forward movement. got to watch over the next day or so. >> this is good news, john. >> it is good news. it is an indication that we may be intensifying discussions that could lead to a deal. don't kn
CNBC
Nov 29, 2012 12:00pm EST
trading action today. in front of me mike murphy, john najarian, joe terranova, josh brown. more of the same, doc. markets up on what seems to be a pretty good day. >> the more they zip it, the more we go up. as soon as they talk, we go down. it's not democrat or republican. doesn't matter if it's harry reid or if it's boehner. when they came out -- or when boehner came out and we're about to get reid as well. when boehner came out and said it's not balanced, we don't have cuts on the table, the white house is not trying, i said yesterday that this increases the gamma, the rate of change of delta. that's what gamma is. it goes up. we're seeing larger and larger risk built into this based on how long these negotiations take. if they drag it out and they don't get substantive issues on the table like cuts as well as taxes, then we're going to be closer to the cliff. that's why all these special dividends. that's why costco borrowed $3 billion to pay that $7 special, judge. that's not a good sign. >> josh, yesterday the dow was up 100 then down 100 -- or down 100 then up 100, whatever you
CNBC
Dec 3, 2012 5:00pm EST
. >> i am not going to use expressions. we have a response. when speaker john boehner put out his counteroffer and said he was -- here is bowles saying he doesn't want his name on john boehner's proposal. the approach does not represent the simpson-bowles plan. i took the mid point of the public offers to demonstrate where i thought a deal could be reached at that time and says times have changed since then and it is up to negotiators to find out where the mid point is today. it is no longer operative apparently. >>> getting back to potential cliffedend. you saw a big bet on microsoft today. >> great news for dell and should be good news for microsoft. we saw somebody buy 3,000 of the jan 28 calls. means the break even is about 28.31. they think the stock will get back to the 29 to 33 range where it has been. >> it is time to visit jane for the look of what is up next. >> guys, they estimate $1 billion worth of goods move through every day but right now we have a whole lot of nothing going on. they are negotiating in a building over there they don't want us to show you. we will ha
CNBC
Nov 30, 2012 6:00am EST
talking about the fiscal cliff. john harwood just got back from senate republican mitch mcconnell's home state of kentucky. here he is. >> in the senate the challenge is bring together red states and blue states. mitch mcconnell's kentucky is horse country. states represented by top congressional leaders, the reddest of all. among the top leaders of congress involved in fiscal cliff negotiations, the one facing the most home state pressure may be senate republican leader mitch mcconnell. he faces re-election in kentucky and a state where the tea party movement is alive and well. president obama may have won this election but would years ago, leaders of the tea party movement elected ron paul's son, rand, as kentucky senator over an establishment republican. one leader of that movement who runs a high-end audio equipment business says they could do the same thing in 2014 and this time take out mitch mcconnell if he agrees to raise taxes. >> we should not raise taxes in this country. we do not have a receive knew problem. i would like senator mcconnell to recognize that the washington
CNBC
Dec 7, 2012 9:00am EST
breaking news here. hedge fund john paulson hedge fund manager having another tough year. official numbers for the month of november. >> so november proved to be another difficult month for john paulson. his advantage fund which employees strategies from each of his individual strategies was down about 3.6% making it down more than 17% year-to-date through the month of november. that means his advantage plus fund which is a more levered version of that is likely now down more than 20% year-to-date through november. also his gold fund, a very difficult november down about 9.5% in gold, which leave it is down close to 30% year-to-date again through november. this is a very disappointing performance on an absolute basis but also on a relative basis. if you look at hrfx which is a hedge fund put together, it's flat and up about .4% year-to-date. certainly not screaming good performance but certainly better than how paulson is doing. and then if you look at hsbc report that's quite popular that tracks a lot of well known hedge fund results, they were ranking as of end of october paulson
CNBC
Dec 3, 2012 6:00am EST
side. we've given them our best view what makes sense for the country. >> meantime john boehner says that his party has a plan and he has already offered dozens of alternatives. >> you can cap deductions at a percent of income, that would be one way to get there. could you eliminate certain deductions for those wealthiest in our country. >> joining us on the topic is david walker. he's on his way here right now. >> and in global market news, a lot of talk about china this morning. a final reading of hsbc's manufacturing purchasing manager's survey for china rising in november, first time above the key 50 mark which indicates expanding rather than contraction. it's been since october of last year. also abroad greece announcing it will buy back bonds through a dutch auction. the set up whether allow athenss to assess the level of demand before setting a final bryce for the deal. part of the country's efforts to cut its about a along debt. and in germany, merkel is not ruling out the possibility of notifying greece some of its debt once athens finances are in better shape. angela merkel
CNBC
Nov 29, 2012 1:00pm EST
down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we saw this reaction from speaker john boehner a little while after he met with geithner. take a listen to how boehner described today's events. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> sue, on a lighter note, it looks like there are negotiations going on up here. i just saw a plate of lunch being brought in to the room where we believe that secretary geithner is sitting right now. we're also seeing some of the aides go in and out of that room as well. so clearly deals are being crafted here. i saw rob nabors, the legislators aide from the whit
CNBC
Dec 6, 2012 12:00pm EST
right, john, can't overstate the sell-off, it's been surprising to many, traders have been surprised. joe terranova you made a deft move and told us you sold 25% of the position that you took on the day you called apple a generational buy. >> and a lot of the reasoning behind shaving the position had nothing to do with the fundamentals of apple. it had more to do with the frustrations of i think the market is feeling with the fiscal cliff. it is a proxy for the market. i said to stephanie before i thought jim cramer made a compelling argument and explanation on exactly what is going on with apple. i don't think it has anything to do with the fundamentals of apple. it is an economic issue, between financial advisers, accountants. >> you think this is end of year selling, nothing more than that? >> i do. i really do. >> you called it the last time it fell. >> yes. >> somewhat precipitously, you bought it calling it a generational buy. are you buying apple on these pullbacks, had the worst three-day performance since 2008. >> and the one thing and i know you respect this about all of us
CNBC
Dec 4, 2012 12:00pm EST
in this new offer from john boehner is the lack of specificity. tony and i argued this a lot. he makes a great point. do we have to argue about rates versus base? is we can talk about base. and at this point republicans have done the same thing mitt romney was doing. $800 billion in new revenues from unspecified chose urs. the time for that is past. i'm glad they're coming with a counteroffer. they have to put specifics on the table. >> tony, under any circumstances, as you sit here right now, are republicans going to agree to let tax rates increa increase? >> look, i find that almost impossible for republicans to do, at least before december 31. i think everyone understands that it is the single thing that the president wants more than anything else. you can sack rifice just about anything to get the top two rates. so i don't see republicans getting on that issue. i think what you are seeing, and i do give credit to speaker boehner for rising above, bring in the proposal yesterday and getting the full republican leadership onboard, talking about specific numbers and maybe see th
CNBC
Dec 3, 2012 2:00pm EST
simply vanish if we go over the cliff? robert frank, are we talking like john mcafee going missing or we just saying we're not going to be millionaires anymore because we're not going to sell into these tax rates? >> belize is not big enough for all these missing millionaires. it is more like a downgrade. we're talking about the wealthy getting a little less wealthy if we go over the cliff and fewer people becoming wealthy. the u.s. has run 5 million millionaires with a total wealth of $18 trillion. that's according to wealth inside base in london. three possible scenarios all depend on the cliff. if we go over the cliff, the population of millionaires would drop by over 313,000. if we get a deal that's bad for the economy, the millionaire population would drop by 126,000 people. if we get a deal and the economy grows, the millionaires would grow by 230,000 new millionaires. their fortunes would soar by $1 trillion. to underscore the cost of the cliff, if no cliff at all, the number of millionaires would grow by 433,000, a 9% increase. difference between no cliff and going over the cl
CNBC
Nov 29, 2012 6:00am EST
then followed by a session with john boehner, eric cantor, paul ryan and chairman of the house's tax writing ways and means committee dave camp. also lunch with republican senate minority leader mitch mcconnell and nancy pelosi. yesterday a number of high profile corporate leaders met with president obama at the white house, including lloyd blankfein. >> both sides have acknowledge there had is revenue concessions and entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in a business context, i would say a deal would be in reach. >> among our guests this morning, we have ron johnson. at the white house today, president obama will host mitt romney for a private lunch. it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and consider his ideas. >> a lot of people didn't think the lunch would ever happen. >> interesting if he's going to be talking about ideas, mitt romney's idea had been to reach some sort of a cap on it 00 mem de
CNBC
Nov 29, 2012 11:00pm EST
should be doing better. i agree, i think it's an okay buy. john in oregon, please. >> caller: boo-yah, jimmy, how are you? >> boo-yah back at you. >> caller: residential home builders, i bought in about six or eight months ago, i have about four of them right now. it seems like the market's flattened out as far as they're concerned. should i hang onto them or ring the bell? i was talking with stephanie link, the research director, a frequent contributor to "fast money." we both felt the same way, this is a pullback, a pullback in time. i want you holding on to them. i think they'll have a very good 2013. i would rather consolidate, mutual fund housing, but the group, the sector is a good one, and the h.e.x. is an etf that's also good. just so we know, that one is coming back very strongly yesterday. chad in florida, please. >> caller: hey, jim, a boo-yah from orlando. >> man, i wish i were in orlando. i wish it was warm. what's up? >> caller: i have a question on north star realty finance. it looks like this got upgraded today. could it be a way to play a comeback in commercial real e
CNBC
Nov 29, 2012 5:00pm EST
announcements from the democrats. you saw john boehner come out very almost angry about the fact that he says that democrats haven't given him any of those specific cuts. i think they might sit pat until they see some of these cuts coming in. the republicans feel very much, hey, we've already talked about putting revenue on the table. that's our ante in. let's see your ante in. they're waiting. the danger is the negotiation gets to a world war i trench style. they are trying to preserve a little bit of flexibility here, even as there's all this rhetoric we saw bouncing the market around all day today. >> if we haven't reached that trench warfare yet, i can't wait to see what it will be like at this point. >> clearly, there are negotiations going on. the fact that the journal has this paper is evidence that stuff is being traded. now, whether those negotiations are close to finalization is a different question. i saw rob neighbors, who is the white house's liaison to capitol hill, shuttling back and forth between harry reid's office and mitch mcconnell's office. the white house guy going
CNBC
Dec 6, 2012 6:00pm EST
this sound and then the "lightning round" is over. are you ready skee-daddy. john in new york. >> caller: boo-yah to ya, jim. >> i'm going to see you with a cow gardens boo-yah. what's going on? >> caller: what can you tell me about hess? here's the problem with hess. the problem with hess, it's the most undermanaged company in the world. it's split into two, and it's got great bakken assets, works between $70 and $75, right now, maybe even more, but they haven't pulled the trigger. jim in florida, jim? >> caller: jesse james cramer crazy horse from florida. i just started working the market about two years ago so i'm a newbie. i've made good 20% profits we bay and century link. i'm looking to buy more about a 3 to 1 ratio on ebay. and centurylink. give me your opinion jesse james. >> bingo, you're on, i would do the same. if it ain't broke, don't fix. you've got the right proportion and the right stocks and i bless it. jeff in florida, please, jeff? >> caller: hi, jim. hey, i'm first-time caller, big fan of you and the show. >> thank you. >> caller: and my stock is annaly cap
CNBC
Nov 30, 2012 9:00am EST
cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican aides who have talked to "the wall street journal," they obtained a copy of the white house prover here in the negotiations. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> eamon javers joins us live from washington. they seem farther apart than ever before. the dow is above 13,000 for the first time in several weeks. do you think the markets are reading comments correctly? >> i do think markets have gotten it wrong a lot this week. they have been reacting strongly to things that are boilerplate information and basic statements from congress that we hear all the time and markets are taking that th
CNBC
Nov 30, 2012 2:00pm EST
tax revenue if something else happens. we'll tell what you that is. >>> where is john mcafee? the millionaire is still on the run in central america. le call in to the show this hour with how he has been surviving. it is an interview you will not want to miss. >>> plus, are you overtaxed? maybe. but not by uncle sam. we'll tell you why. >>> and why it may be the end of the road for detroit. one state senator's plan to dissolve the city. he is your guest. happy friday, everybody. mandy will be back on monday. i'm brian sullivan. thank you very much for joining us. >>> stocks relatively in a holding pattern again all ahead of the fiscal cliff. we're not seeing big moves. people unwilling to take bets. we're going to get to bob pisani in just a minute. >>> but first we need to get to eamon javers with some breaking headlines from mitch mcconnell on the fiscal cliff. eamon? >> brian, we're getting a trial balloon here just within the past couple of minutes from mitch mcconnell. he's the senate republican leader responding now to the president's proposal of yesterday. mcconnell telling
CNBC
Dec 3, 2012 7:00pm EST
skirmish here between the speaker of the house john boehner and erskine bowls. boehner said this was based on a report that bowles laid out. bawls said no. he said the approach laid out does not represent the simpson-bowles plan or the bowles plan. in fact what bowles is is that the speech that boehner based his proposal on was something that bowles had laid out in the middle of the negotiations last year as the mid-point between two sides but bowles is saying today that the mid-point has changed, a lot has changed since last year and it's up to the negotiators to figure out where that mid-point is and where and if they can get a deal, larry. >> we'll leave erskine bowles to his own devices. this is not perfect. i'm not writing it. it's not perfect. here's boehner literally bending over backwards, rising above partisanship and the white house just slaps him down. slaps him down. don't they know how bad they are starting to look? only on the basis that boehner didn't raise tax rates on the rich but does have a tax concession on deductions. this is getting pretty silly. if the president want
CNBC
Dec 3, 2012 12:00pm EST
apple's former ceo john scully joins us in a cnbc exclusive. his take on social media's biggest players, and who could emerge as the next steve jobs. he'll be right here on-set. back in two minutes. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. >>> it's time now for our traders to face off on one of the biggest stock stories of the day. shares of dell having
CNBC
Dec 5, 2012 1:00pm EST
we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown districts. a lot of folks focused on this negotiation right now but the reality is that the negotiations are taking place among just a very few, very high level people. i was talking to a few rank and file members yesterday who said they were frustrated there is not a whole lot for them to do, they are just sitting around here waiting for some break-through in these negotiations. they want something to do on the floor, in their offices and there is not much for them to sink their teeth into. now they're going into their district. leadership is going to stay here and continue these negotiations. speaking of wasting, sp
CNBC
Dec 5, 2012 11:00pm EST
even listen. what were they looking at versus what i was looking at? they were looking at john carter, i was looking at the new bond movie. one after another, they were all downbeat. is the expansion too rapid? is china any good? whether demand for expensive coffee is there. i was waiting for a guy to say, listen, that triple cappuccino stinks. if i were howard, i would tell them to take a hike. they were too negative versus what the company's up to. their pessimism? opportunity. starbucks was actually down. one time -- i have the apple ipad, you know, thing i'm like, wow, it's under 50. i mean, wow. terrific opportunity. ipad, i mentioned it, surprised one didn't come down and hit me over the head and knock me out. apple. if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you really think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power and polling. right now he has the upper hand, then he can really roll them and intends to do so. it'
CNBC
Dec 4, 2012 4:00pm EST
would be plummeting. >> i think the markets missed a very key thing that happened today. john boehner, the speaker of the house, sent a message that a deal was in the works. he threw several house members off of key committees when they criticized him openly for looking like he was ready to make some deal on taxes with president obama. that's a sign to me that he's going to clear the decks to try to push through a deal. it's a sign that we're going get some kind of tax increases for the top 2%. i don't know where those numbers are going to be. pretty clear to me that a deal is in the works and we're heading in that direction. what i'm not sure of is whether the market will go up on this, necessarily. >> in terms of that january effect, bob, does that even matter this year? >> yes, look, it's not long from anybody, january and february are the best months of the year. that's a factor. >> let me ask you about putting money to work, keith springer. you say we're going to get a deal regardless. we may get a deal regardless, but that deal means probably higher taxes and lower spending. wha
CNBC
Nov 30, 2012 7:00pm EST
pavlich. what speaker john boehner has always said, a dollar tax increase, a dollar spending cuts. >> president obama who jay carney represents during his daily press briefings at the white house wants an unlimited debt limit. he wants no debt ceiling on the amount of money that he can spend. so jay carney is taking shots at john boehner who has said look it's not a serious discussion about how we're going to solve the fiscal problem unless of course we match spending cuts to the number of dollars we increase in the debt limit. >> do you think that could pass congress in all seriousness? no more debt limit? no more power of the purse strings? >> no. >> that's insane. i think it's in the constitution. >> yes. and although president obama this because he got re-elected has he had has a mandate to do whatever he waumpbts, he forgets that the house republicans were also re-elected to kind of hold the line on spending. so no, i don't believe that would make it through congress. >> what about this utterance by the president today? instead of blasting congress, sort of saying he's keepin
CNBC
Nov 28, 2012 11:00pm EST
service vehicles. therefore it's just a speculation. john in florida. >> caller: jim, big booya to you from lake ashland, florida. >> man are you lucky throb. it's so miserable here. what's up? >> caller: baidu. >> no, no, i can't own individual. a loss there represents a value. john in florida. >> caller: hi, jim. i just want to mention i don't know if anyone ever told you but you remember billy joel, not lennon like you showed that portrait last week. >> billy joel was quite a hero in the concert for sandy. he looked great and he sounded great. >> if i don't like billy joel, i'm done. >> caller: what's your opinion on plcn, polycom? >> we don't want to be in anything i regard as video and voice because you'll be competing against the giant that is cisco! >> glen in illinois, please. again? >> caller: i'd like to thank you on your excellent insight into jobs in general. >> my stock has been up at past eight trading days and i was wondering if this was any case the stocks were to pop. cldx is the prop. don't know why it's up. got to come back. sorry. could be a could good expectation.
CNBC
Dec 7, 2012 12:00pm EST
ahead? pete and john and jerry and stephen weiss and terranova are the traders. apple sits at the lows today as we come on the air. >> right. i have yet to find a reason for me to dip back into apple presently. you know, there's different stories out it seems like each and every day why it's out, what the buys are and selloffs all. forget all that for a moment. the stock seems to be stuck in a range and tlink are other opportunities out there. there's a lot of expectations for why it's moving around the way it is. specifically people are pointing to, is it for tax reasons? the other day it was for the margins. whatever the reason you're seeing an accelerated move each and every day. i haven't seen a reason to jump back in there yet. i still own the stock but not to add anything to it. i still think there are far better beta names out there to trade. >> doc, are you at odds with your brother? i want to read you stats that are going to shock you. >> please. >> in the past 9 of 11 weeks, $115 billion in market cap washed away from apple. >> yep. >> what does that mean, doc? >> it also add
CNBC
Dec 6, 2012 6:00am EST
above 100. >> ended up 85 for the day. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother wa
CNBC
Dec 5, 2012 6:00am EST
the results of its second silver project, this one in mexico. the company ceo john smith joins us from vancouver this morning. john, why don't you tell us a little bit about what you found in mexico. >> good morning to you, becky. a large project here, will be producing about 50 million ounces of silver over 18 years and has a life well in excess of 20 years. so large project. going to be a base load supplier for us as a business. and compliments nicely the mine that we have in argentina. so very strong corner stone project for us, real happy to have it. >> also i think one of the advantages from what i've read about this is that it's at a lower altitude than other silver mines so it's a little easier to access? >> that's right. a lot of silver mines are higher up. this one is lower. it's accessible. so really from a point of view of access, build and production, it's in a great location for us. >> we've seen a lot of interesting moves, if you want to call them interesting, over the last four years or so. silver has done very well. why do you think that is? >> i think it's just no
CNBC
Dec 5, 2012 2:00pm EST
is odd. >>> where in the world -- or not. where in the world is john mcafee? is he in belize? he is not. going to give you his new location next. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. visit fastreliefchallenge.com today for a special trial offer. a passionate belief, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. ♪ [ male announcer ] 'tis the season to discover the kid in all of us. enjoy free shippi
CNBC
Dec 5, 2012 7:00pm EST
that. speaker of the house john boehner said today that he is still waiting for a counterproposal now from the president of the united states. and we learned late this afternoon that in fact speaker boehner and president obama had a phone call today. we don't know, however, what was said in that call. but reports are that some progress is being made in these negotiations. at least conversations continuing behind the scenes between the top leaders, larry. >> all right. a phone call. that's pretty good progress. many thanks. so let's just ask a couple questions here. does president obama have the whip hand in all these negotiations, and are the republicans about to be blamed big-time for falling off their own fiscal cliff? joining me now is ace pollster scott rasmussen. i just did a little tv gig with scott, who's in about 60 cities across the country. all right, scott. you heard timothy geithner. he said if they don't raise taxes on the rich, they were going to go over the fiscal cliff. but at the end of the day, if we do fall over the fiscal cliff, if taxes go december 31st, will the
CNBC
Nov 29, 2012 7:00pm EST
think this is insanity. i know john hilsenrath is a great reporter. i think the problem is -- many thanks, lee, for helping us out. >>> here's a thought experiment. what if i told you there would be no fiscal cliff recession? what if you believe me? how would you invest? well, we're going to give stephanie that challenge. she's director of research of "the street" and co-portfolio manager of jim crepers's charitable truth. an old friend. i'm here to say obama is bluffing, there's not going to be a fiscal cliff, they will do something to stop the taxes from expiring. he doesn't want to be herbert hoover obama. i'm putting that on the table. if you take that off the table, you look at the economy, profits, the stuff, there's no lending going on, what is your outlook for the stock market? ivities i think we would be higher if we didn't have this issue. we have low interest rates, not only here, but globally the monetary policy will stay easy. whether you like it or not, it's going to stay easy for a long time. >> i would argue that it's helped. i would look at the gdp revisions and ta
CNBC
Dec 4, 2012 3:00pm EST
money just to give it away. john burns says all this is just one more sign the corporate tax environment is not working. michael, this is obviously a case of borrowing from peter to pay paul, which you call crazy, right? >> well, when the federal reserve takes interest rates to ridiculously low levels, people do dumb things. they borrow money to buy nasdaq stocks. they borrow money to flip houses. sometimes they borrow money, corporations do, just to send it out the back door. they don't use it to create capital goods or to raise the revenue and earnings. they just send it out the back door, and they leverage up their balance sheet. i want to put to you on notice that corporations vin creased their debt by over $1 trillion since december of 2007. horribly inefficient way to grow an economy. >> it's interesting you say that. i feel like one day we're going to back and say, remember whe could borrow at 3% to buy a house. if companies have to borrow the money to pay a dividend, why issue a dividend? >> well, i think we forgot whose money it is. it's the shareholders' money throu
CNBC
Dec 5, 2012 4:00pm EST
cliff being any closer to a deal? chief washington correspondent john harwood watching this event closely. john. >> reporter: i think what we saw in that interview that steve had was further confirmation of the fundamental outlines in the administration's strategy. one, rates have to go up. they're trying to break republicans on the issues of rates. although, they're not insisting that rates go all the way up to 39.6. you could see something in between. the second thing is they're taking a very hard line on the debt limit. the president said in remarks today to the business round table he has some cover from business on that because they don't want to see that limit that could be damaging to the u.s. credit raiting. the combination of those two things are the fundamental levers the administration is going to try to use to force republicans to compromise. then the compromising from the administration will come on the issues of entitlements, medicare, social security is, and medicaid. >> all right, jauohn. thank you so much. let's keep the focus in washington and get reaction. repub
CNBC
Dec 5, 2012 12:00am EST
management style. >> jobs would eventually provoke a boardroom showdown with apple president john sculley over who should lead the company. the board chose sculley. so he was out of his own company. >> kicked out of his own company, and, you know, he always had that feeling of abandonment. there was nothing worse than being abandoned by apple. >> he sold his stock and used the company to start a new venture called next computer, which made great products that no one bought. but jobs would be saved by a tiny company that he acquired from george lucas for $5 million. pixar studios would eventually revolutionize movie animation and make jobs a multibillionaire. apple hadn't done so well, and a decade after jobs left, it decided to buy next computer and the services of jobs as a consultant, but he would soon take over as ceo. and when he goes back, it's almost bankrupt. >> it's, like, 90 days away from bankruptcy. they're totally out of money, and it's lost its way totally. so he says, "here's the 27, 30 things you're making," printers or whatever. and he draws a chart that just has f
CNBC
Dec 6, 2012 4:00am EST
. sensex gained 0.6% today. >> john boehner and president obama speaking by phone, but no announcement of any upcoming face to face budget talks. earlier the president told the business round table that a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. and in an interview on cnbc, timothy geithner says the gop is making a little bit of practice, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> our obligation is first do no harl. we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be more cracks in the ranks. "wash
CNBC
Dec 6, 2012 9:00am EST
a story we have been following for a while now. guatemala police arrested john mcafee last night for entering the country illegally. >> john mcafee thought he had finally made it to safety when he reached the shores of guatemala this week, but his troubles it turns out are just beginning. mcafee, the gun toting software tycoon, is on the run after the murder of his american neighbor in belize. police are seeking mcafee for murder. he says he has nothing to do with the murder. after hiding for three weeks, he fled to guatemala and is now seeking political asylum. he thought that guatemala would be safe, he hired -- it turns out the plan was foiled last night when guatemalan police arrested him for illegally entering the country, if he gets asylum he can stay, but i'm told this is not likely, what is more likely is that he will be escorted by police back to belize, once at the border, he could be picked up by belize police and detained. what happens after that is anyone's guess. he could be charged in belize or if mcafee can be believed, he would disappear. i find it difficult that he
CNBC
Nov 29, 2012 4:00am EST
including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal cliff. but speaking with reporters in bangkok, he says the automaker is prepared for any outcome. cnb
CNBC
Dec 7, 2012 6:00am EST
%. >> and the john mcafee saga continues to unfold. the software guru is now back in a detention center in guatemala. he was taken to a hospital yesterday for what his lawyer described as two mild heart attacks. mcafee's attorney says his client suffers from anxiety and hypertension. the software pay near is being held by guatemalan authorities for entering the country illegally from belize. he fled belize after authority wanted to question him about the death of one of his neighbors. mcafee said the police were behind all of this, he's been set up in all of this, but he's also -- >> tattoo on his arm. >> he's also publicly blogged about using -- >> i want to convene our kids investment committee. your daughter has a smartphone, right? >> oh, yeah. >> what kind? >> iphone. >> my son has a samsung. i asked him if he cared about getting an iphone. he got a droid. he doesn't care. he's cool with the droid. and our data from the all america survey showed that in tablets, iphone -- ipad leads samsung, except in the 18 to 34 demographic. where the aspirations are equal. so i just -- >> part of t
CNBC
Dec 7, 2012 6:00pm EST
, it is omg. i'm thrilled you that came here. this is jonathan cedar. okay? and john levy. biolite's chairman and ceo. thank you so much, gentlemen. >> thank you. >> stick with "mad money." >> announcer: coming up, data and dollars. as companies head to the cloud, the business of big data becomes all the more crucial. cramer's found one stock at the center of finance and figures that could be attracting some potential suitors. the takeover talk is just ahead. and we can save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >>> just because we're stuck in a real tough environment right now with that darn fiscal cliff deadline looming, three weeks away, our political leaders getting absolutely nowhere -- >> buy buy buy! >> sell sell sell! >> it doesn't mean we stop searching for opportunities to make money. even in the
CNBC
Dec 7, 2012 4:00pm EST
great weekend as well. see you mondays. >>> house speaker john boehner says fiscal cliff talks remain stuck in neutral. >> the president insist on his position. insist on my way or the highway. >> well, going over that highway and the fiscal cliff would kill thousands of jobs, especially in the defense sector and the head of a defense contractor who will feel that pain joins us next along with former vermont governor howard dean who argues maybe going over the fiscal cliff will be the best thing for the nation. >>> later, we have the former chairman of the council of economic advisers under president bush. he's going to join us as well as laura tyson, the former head of the cea under president clinton. we're going to get their take on the cliff and today's jobs number. >>> also, tough week for apple shares. is now the time to load up? stick around for the apple trade in the back half of this hour. stay tuned. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ]
CNBC
Nov 30, 2012 11:00pm EST
in steve wynn. how about john in california? >> caller: boo ya, jim. my question is double down on barnes & noble right now? >> no. i went over that with a fine tooth comb. a lot of people didn't like the book basis. unfortunately those guys i love them they are a temple of sector learning you can't own the stock. illinois, charlie. >> caller: boo ya, jim, from central illinois. >> heartland. what's going on there? >> caller: well, i wanted to thank you for your excellent presentations scaling in and out of stock transactions. last friday it was very good. i'm interested in scaling into rentech nitrogen. >> with that good yield i think you're taking the appropriate action. i do want to scale into it. i think it's very attractive here. kevin in north carolina. kevin >> caller: yes, jim, a big boo ya to you. calling in about applied materials. >> oh, boy. all right, mr. tar heel. that's got a 3.5% yield. sell it because i don't think it's got anything cooking. laura in new york. laura. >> caller: hi, jim, it's laura from new york. how are you? >> how are you, laura? >> caller: good,
CNBC
Nov 30, 2012 3:00pm EST
talking about the bias to the upside toward the close. >> how worse headlines can you get than john boehner, the speaker of the house, saying we've gone nowhere on talks and the market moves higher? >> i don't know if it's because of a deal expectation as much as it's because of this morgan stanley rebalance and this movement toward the upside at end. i don't know if this is technical in nature. >> today i think it is. >> it's technical, yeah. >> before we go, brad, what would you buy? >> from a credit stand point, we're comfortable with a lot of these companies you're hearing could potentially come with a special dividend. you know, if they're still a highly rated company, it's a modest one-time uptick in leverage, we're still comfortable with that. the question really is if it's actually a change in the way a company's going to run itself from a leverage standpoint. we saw that with at&t. that was an underperformer in credit. if it's a one-time thing, i think we're comfortable. if it's a change in philosophy, that's when you'll see underperformance. >> all right, gentlemen. thank
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